Popular expat destination Dubai is relaunching a variety of ambitious property
projects put on hold during the financial crisis.

The expat hot spot of Dubai is ready to kickstart the ambitious property projects it put on hold at the height of the global financial crisis.

While this includes a headline-grabbing Taj Mahal replica four times the size of the original, it also involves more practical ventures such as a new megacity named after Dubai’s ruler Sheik Mohammad bin Rashid.

The Gulf nation is keen to put itself back on the map for multinationals, investors, shoppers and tourists as economic growth starts to pick up.

The Mohammad bin Rashid City “desertopolis” will feature a shopping mall expected to be the world’s biggest, taking up more floor space than Hyde Park.

Also back on the drawing board is the Falconcity of Wonders, a global theme park featuring replicas of the Eiffel Tower, the Giza Pyramids and the leaning Tower of Pisa.

Other projects include the expansion of Dubai Airport and a Bollywood theme park.

The new boom has drawn comparisons to the adrenalin-fuelled building buzz that first gripped Dubai at the start of the 1990s which created the Burj Khalifa, the world’s tallest skyscraper, the man-made Palm Islands and a string of luxurious hotels.

Many of these projects came to an abrupt halt during the global financial crisis which began in 2008 as developers ran out cash and wealthy backers. The state eventually called upon a US$10 billion bailout from Arab neighbour Abu Dhabi to get back on its feet.

But now the good times are rolling again, which could lead to thousands of jobs being created in Dubai. This is because the focus has shifted away from housing developments towards entertainment and tourism ventures.

Expat workers make up more than 80 per cent of UAE’s working population, it is estimated.

Mark Stott, CEO of property developers Select Property, said: “These projects are fantastic news for Dubai and will be a huge boost for the economy. What is interesting is that many of these immense projects (Dubai Marina is the largest man-made marina in the world), have quietly been completed when the world wasn’t watching. They can now offer everything that residents and businesses require.”

He added: “Projects of this scale, and those such as the Mohammed bin Rashid City, work because they are designed to offer everything that users – whether that’s tourists, residents, business people – want and inevitably struggle to find anywhere else.”

Dubai Airports, the company that owns and operates Dubai International Airport, is investing the equivalent of £1.3 billion in a bid to increase its capacity for handling passengers and flights.